Chicago wheat futures rebounded to around $8 a bushel, rising from the three-week low of $7.7 on November 30th, as supply concerns and high import tenders underpinned prices. Continued rains in Australian wheat producing regions dented the harvest’s quality. Despite higher crop output forecasts for 2021/22 by the Australian Bureau of Agricultural and Resource Economics and Sciences, recent harvests show lower protein grades in the crop, curbing supply. Further, prices were lifted by buyers taking advantage of the recent dip caused by the Omicron variant, as seen in the Saudi Grains Organization’s tender of 535 thousand tonnes of wheat for arrival in between May and July of 2022.

Historically, Wheat reached an all time high of 1334.50 in February of 2008. Wheat - data, forecasts, historical chart - was last updated on December of 2021.

Wheat is expected to trade at 749.01 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 825.59 in 12 months time.

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Wheat


Price Day Month Year
Soybeans 1,268.75 22.7500 1.83% 4.92% 9.02%
Wheat 799.00 -7.5000 -0.93% 3.26% 41.48%
Lumber 903.20 -11.30 -1.24% 49.04% 33.10%
Cheese 1.76 0.0100 0.57% -0.06% 9.00%
Palm Oil 4,650.00 -34.00 -0.73% -8.30% 39.56%
Milk 18.60 0.27 1.47% 3.91% 21.17%
Cocoa 2,435.00 14.00 0.58% -0.20% -15.16%
Cotton 109.30 -0.15 -0.14% -6.15% 57.15%
Rubber 223.60 -2.40 -1.06% 7.35% -12.79%
Orange Juice 120.85 -1.05 -0.86% 5.09% -2.50%
Coffee 244.05 7.40 3.13% 16.99% 111.48%
Oat 718.25 -9.5000 -1.31% -3.07% 129.29%
Wool 1,346.00 0 0% 0.45% 17.66%
Rice 14.07 0.0500 0.36% 7.53% 15.09%
Canola 1,032.90 10.30 1.01% 2.27% 74.15%
Sugar 18.79 0.17 0.91% -4.28% 30.12%
Tea 3.08 0 0% 4.05% 11.19%
Corn 585.75 8.7500 1.52% 4.74% 40.47%


Wheat
Wheat Futures are available for trading in The Chicago Board of Trade (CBOT), Euronext, Kansas City Board of Trade (KCBT) and the Minneapolis Grain Exchange (MGEX). The standard contract unit is 5,000 bushels. United States is the biggest exporter of wheat followed by the European Union, Australia and Canada. Wheat prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.